Reliance 42nd AGM, The Indian Growth Story

Here are a few quick catching up points of the Reliance 42nd Annual General Meet

Saudi Aramco Picture (cnbc.com) , RIL logo from Wikipedia

Saudi Aramco to invest $75 Bn to in exchange of 20% ownership of oil-to-chemical business

Saudi Aramco will supply 500,000 barrels of oil to Jamnagar refinery

Saudi Aramco will also have proportionate stake in British Petroleum and RIL’s JV for RIL retail petrol division

4. Reliance will raise 7,000 cr by selling 49% stake in its fuel retail business to British Petroleum

Mukesh Ambani Addressing the 42nd AGM of Reliance Industries

5. Jio turns 3 with 340 Million Customers, 3 years and 340 Million customers is a feet no one in the world has ever achieved.

6. Jio has become India’s number 1 telecom operator in terms of number of subscriber and world’s number 2 telecom operator in the world in terms of number of subscriber in a single country

7. The investment cycle of Jio is now complete, now only access layer of the network will have recurring investments as per the needs to meet the demands from the customers.

8. Jio is also taking care of the Local Cable Operators and MSOs. Reliance is already in touch with 30,000 LCOs which are based out of various parts of the country. RIL through Jio will also work with partnering with other LCOs to provide Broadband to Homes.

9. Launch of Jio fiber is slated to be 5th September in 1600 towns in India in phase 1 and shall eventually reach all over the country. LCOs will be instrumental in the home broadband services

10. The base plan will have 100 mbps speed and will all the way up to 1 gbps

11. Pricing is kept in various forms, the monthly packs will start from INR 700 and will go all the way upto INR 10000

12. Jio has also launched its set top box which will have a lot more functionality as compared to conventional simple set top box. Some interesting functionality includes that of desktop grade gaming performance, support for Augment Reality applications, Mixed Reality applications etc.

13. People choosing to opt for annual lifetime packs will get 4K LED TV, beat this any of the existing player, this one is a bummer to any other player. They are wondering in awe as this disrupts all of their ideas of customer acquisition

14. RIL has decided to take help of Jio and come up with Payment POS for SMEs and Kirana Stores. These POS will also help these Kirana Stores with thier accounting.

15. RIL Jio has now decided to enter into all the possible revenue avenues available to them , they’d like to bucket them as follows:A) Enterprise BroadbandB) Home BroadbandC) Internet of Things(IoT) across India D) Broadband for SMEs

16. The new era of partnership with Microsoft Azure platform is announced.

17. RIL Jio will built state of the art Data Centers across India and provide Microsoft Azure based cloud solutions to the enterprises and SMEs

18. For SMEs, Office 365 will be bundled along with the Azure Cloud Solution to provide for the enterprise grade productivity possibilities for budding startups and SMEs.

19. RIL Jio for earmark the budding entrepreneurial ventures in India and support them financially and through various offerings in its kitty.

There were many other announcements which are worthy fit for reading and contemplating. This is a moment for whole world to give a heed to what is being said. Also, need to have a look at the fact that one wave of such a disruption has already been delivered and what a success it has been.

The story of India is being written and the direction that it has taken, the leaps and folds that have been achieved is tremendous. The real growth has taken place post 90s when the license raj was being disband in India and hence in less than 30 years many old guards have fallen and the new ones have emerged.

With the stable government the second time and other 3 governments which completed their terms prior to 2014 has only fueled this growth to achieve the heights that it has. Indian government has at last understood that they have no business to be in business and that they only have one and the most important role of being a facilitator. Government must provide level playing field for enterprises to compete, fail, grow and thrive. Some enterprises must die for others to survive, some enterprises with a big gut to absorb others to rise must undergo serious restructuring to find the entrepreneurial aspirations within their own ecosystems.

Indian growth story has just begun, it is only to go higher from this and the Indian people who are currently party to this growth will personally benefit from this to a great deal.